Daily Newsbriefshttp://www.chinaeconomicreview.com/
enFri, 31 Jul 2015 07:00:15 +0800Fri, 31 Jul 2015 07:09:44 +0800Baidu to buy back $1bn in shares after its stock price falls 14%http://www.chinaeconomicreview.com/baidu-buy-back-1bn-shares-after-its-stock-price-falls-14
China's largest search engine company Baidu (BIDU.NASDAQ) announced on Thursday it would buy buy back US$1 billion in shares over the next year after its stock price fell 14% following lower-than-expected second-quarter profit, Reuters reported, citing a statement from the firm. The company's plan to spend aggressively on connecting online smartphone users to offline services raised investor concerns on margins, triggering th
CER Daily Briefs EmailCER Weekly EmailBriefBusiness PracticeTech, Media &amp; Telecom676292015-07-31T07:00:15+08:00Daily NewsbriefsMarket regulator tells media to verify "speculative" reports with it firsthttp://www.chinaeconomicreview.com/market-regulator-tells-media-verify-speculative-reports-it-first
The China Securities and Regulatory Commission has warned journalists that all "speculative reports" must "first be confirmed by the CSRC in order to prevent the spread of false information and market disturbance," The Financial Times reported, citing a statement at the beginning of the commission's most recent press briefing. But as the rhetoric coming from the CSRC and official media outlets such as the People’s Daily
CER Daily Briefs EmailBriefLaw &amp; RegulationMarketsPolitics &amp; Society676282015-07-31T06:51:53+08:00Daily NewsbriefsProperty firms turn to onshore bonds in face of foreign investor cautionhttp://www.chinaeconomicreview.com/property-firms-turn-onshore-bonds-face-foreign-investor-caution
Mainland property firms including Evergrande Real Estate and China Vanke have issued about RMB70 billion (US$11.27 billion) in domestic corporate bonds and medium-term notes to pay off existing debt or fund future expansion over the last eight months as offshore fundraising has slowed in reaction to defaults like that of Shenzhen-based Kaisa Group, South China Morning Post repo
CER Daily Briefs EmailBriefInvestmentProperty676272015-07-31T06:41:38+08:00Daily Newsbriefs155 Chinese loggers freed in Myanmar as part of national amnestyhttp://www.chinaeconomicreview.com/155-chinese-loggers-freed-myanmar-part-national-amnesty
155 Chinese loggers were freed from prison on Thursday in Myanmar, where they had been kept after 153 of them were given life sentences last week for illegal logging, South China Morning Post reported. The loggers were arrested in January in a crackdown on Myanmar's lucrative illegal logging and timber trade.
AgricultureCER Daily Briefs EmailBriefCommoditiesEconomics &amp; TradePolitics &amp; Society676262015-07-31T06:27:20+08:00Daily NewsbriefsChina tariffs' end may not be able to save South Korean kimchi industryhttp://www.chinaeconomicreview.com/china-tariffs-end-may-not-be-able-save-south-korean-kimchi-industry
Beijing's pledge to scrap tariffs on South Korean kimchi as part of a free-trade agreement signed in June may not be enough to revive the latter's now anemic production of the cabbage dish, The New York Times reported.
AgricultureCER Daily Briefs EmailBriefEconomics &amp; Trade676252015-07-31T03:31:12+08:00Daily NewsbriefsParty may hold annual closed-door leadership summit in Beidaihe earlyhttp://www.chinaeconomicreview.com/party-may-hold-annual-closed-door-leadership-summit-beidaihe-early
The annual closed-door leadership summit of the Communist Party in Hebei province's Beidaihe may have been moved up to next week, South China Morning Post reported, citing unnamed sources.
CER Daily Briefs EmailCER Weekly EmailBriefPolitics &amp; Society676232015-07-30T10:06:10+08:00Daily NewsbriefsMargin debt at mainland exchanges falls as fewer investors open trading accountshttp://www.chinaeconomicreview.com/margin-debt-mainland-exchanges-falls-fewer-investors-open-trading-accounts
The outstanding balance of loans backed by share purchases fell by RMB31.9 billion (US$5.1 billion) to RMB887.5 billion on Tuesday as the combined margin debt of both mainland stock exchanges had fallen by US$136 billion from its June 18 peak to US$230 billion as of Monday, Bloomberg reported. New stock investors totaled only 391,000 last week, down 26% from the week prior.
CER Daily Briefs EmailBriefInvestmentMarkets676222015-07-30T09:56:52+08:00Daily NewsbriefsWynn Resorts Q2 profit falls as Macau revenue drops 35.8%http://www.chinaeconomicreview.com/wynn-resorts-q2-profit-falls-macau-revenue-drops-358
Wynn Resorts' (WYNN.NASDAQ) second-quarter overall profits totaled only US$56.5 million, down from US$203.9 million a year earlier as the firm's revenue from operations in the Chinese territory of Macao fell 35.8% to US$617 million, The Wall Street Journal reported.
CER Daily Briefs EmailCER Weekly EmailBriefEconomics &amp; TradeInvestmentPolitics &amp; Society676212015-07-30T09:48:45+08:00Daily NewsbriefsAvic Capital director fired for selling shares in subsidiaryhttp://www.chinaeconomicreview.com/avic-capital-director-fired-selling-shares-subsidiary
Yang Shengjun, managing director Aviation Industry Corp of China subsidiary Avic Capital (600705.SHA), has been fired by the latter's board for selling stocks in another subsidiary, South China Morning Post reported. An exchange filing by Avic Heibao (600760.SHA) on June 30 showed Avic Capital's wholly owned Avic Investment Holdings dumped all of its 16.8 million shares - 4.88% of H
CER Daily Briefs EmailBriefBusiness PracticeInvestmentLaw &amp; RegulationMarketsPolitics &amp; Society676202015-07-30T09:26:13+08:00Daily NewsbriefsGSK CEO optimistic after quarterly drug sales in China drop 14%http://www.chinaeconomicreview.com/gsk-ceo-optimistic-after-quarterly-drug-sales-china-drop-14
Chief executive officer of pharmaceutical conglomerate GlaxoSmithkline Andrew Witty maintained the company's business in China is stabilizing even as he admitted that the country's drug market had slowed dramatically over the last year, The Guardian reported.
CER Daily Briefs EmailBriefBusiness PracticeHealth Care676192015-07-30T09:07:04+08:00Daily Newsbriefs